https://www.taxtmi.com/caselaws?id=448820 CESTAT Ahmedabad set aside absolute confiscation of gold chains and foreign currency seized from passenger. Court held gold is not prohibited item but restricted, distinguishing between prohibited goods (arms, drugs) and restricted goods subject to import conditions. Passenger given option to redeem gold chains for Rs.3,00,000 redemption fine. Foreign currency confiscation overturned as revenue failed to prove improper importation under Section 111 Customs Act. Penalties under Sections 112(a) and 114AA reduced to Rs.1,00,000 and Rs.50,000 respectively. Appeal partly allowed. en-us Mon, 29 Jan 2024 00:00:00 +0530 Wed, 31 Jan 2024 08:26:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448820 CESTAT Ahmedabad set aside absolute confiscation of gold chains and foreign currency seized from passenger. Court held gold is not prohibited item but restricted, distinguishing between prohibited goods (arms, drugs) and restricted goods subject to import conditions. Passenger given option to redeem gold chains for Rs.3,00,000 redemption fine. Foreign currency confiscation overturned as revenue failed to prove improper importation under Section 111 Customs Act. Penalties under Sections 112(a) and 114AA reduced to Rs.1,00,000 and Rs.50,000 respectively. Appeal partly allowed. Case-Laws Customs Mon, 29 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448820